Enforcement

Singapore: Next Phase of FSMA Implementation Has Commenced

14/05/2024

MAS can now impose fines up to S$1mn for non-compliance with technology risk management requirements.

Crypto / Digital Assets

US Orders Chinese-owned Crypto Miner to Sell Land

14/05/2024

Presidential order says MineOne Partners did not notify CFIUS before buying land next to an Air Force base.

Fintech / Regtech

Mastercard Commences Bank Card Clearing Business in China

14/05/2024

Mastercard is the second overseas bank card clearing institution to start operating in China, after Amex in 2020.

ESG / Sustainability

Malaysia to Sell First Domestic Carbon Credits on 25 July

14/05/2024

Bursa Malaysia said the auction of carbon credits generated via a domestic forestry project marks a “significant milestone” for BCX.

AML / KYC

Canada: FINTRAC Fines Binance for Regulatory Violations

14/05/2024

Binance failed to report almost 6,000 crypto transactions larger than CAD 10,000 over the two years to July 2023.

Enforcement

FINRA Censures and Fines Mizuho’s US Securities Unit

14/05/2024

Mizuho Securities had inaccurate or incomplete information in more than 300,000 institutional customer confirmations over five years.

Securities / Derivatives

China Mulls Tax Exemption for Stock Connect Investors

14/05/2024

The proposal to scrap the dividend tax for mainland Stock Connect investors was submitted in March by the SFC’s Tim Liu.

Capital / Liquidity

ICBC, BOC to Issue First TLAC Bonds This Week

14/05/2024

ICBC and Bank of China will each raise CNY 30 billion through TLAC bonds this week, their first such issuances.

Market Infrastructure

HKEX Announces Plans to Enhance Securities Clearing Arrangement

14/05/2024

The enhancement will allow exchange participants that are non-clearing participants to appoint more than one general clearing participant for the clearing and settlement of stock and options trades.